01/10/2026
Oh no! I thought my bank was one of the good ones.
Then I looked at the The GOOD Shopping Guide's ethical banking ratings for the purpose of this post, and Starling wasn't where I expected it to be.
Starling says it doesn't fund the fossil fuel industry, which is more than a lot of banks can say. But it doesn't seem to have clear sustainability commitments, and its reporting scores as average. Still better than most. Come on Starling, publish your reports.
Did you know that banks lend our money out, and a lot of it still funds oil and gas. For example, Barclays put $35.4 billion into fossil fuels in 2024.
If you run a business, the sums are bigger, so the choice matters more.
Limited company? Your business money has to be kept separate from your own, so you need a business bank account. Sole trader? You don't have to, but I'd really recommend one.
Here's what I found for bank accounts that work with accounting software:
The Co-operative Bank, The strongest ethical policy of the mainstream options, covering human rights, the environment and animal welfare. It connects to Xero, Intuit QuickBooks and FreeAgent, but the experience could be smoother. A small price for knowing your money is doing good while it sits there.
Virgin Money, now owned by Nationwide Building Society. It rates above benchmark with the The GOOD Shopping Guide, and the M Account is free for businesses under £1m turnover. It's modern, easy to use and connects to Intuit QuickBooks and Xero. Worth knowing: it's Virgin Money's business, not Nationwide's, and its sustainability reporting isn't top marks but again, better than most.
Starling Very easy to use and works with all three. Just not as ethical as I'd assumed.
No bank is perfect. But it's worth choosing on purpose, and switching is easier than you think.
Do you know where your bank puts your money? You can also find out more on Bank.Green
